Attached files
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| 8-K - CURRENT REPORT - cbdMD, Inc. | ycbd_8k.htm |
Exhibit 10.1
AMENDMENT NO. 1
TO THE
EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO THE EXECUTIVE
EMPLOYMENT AGREEMENT (this
“Amendment No.
1”) is made and entered as of the 3rd day of March,
2021, by and between cbdMD,
Inc., a North Carolina corporation whose principal place of
business is 8845 Red Oak Boulevard, Charlotte, NC 28217 (the
“Corporation”)
and T. Ronan Kennedy, an
individual whose address is 2713 Full Circle, Raleigh, NC 27613
(the “Executive”).
RECITALS
WHEREAS, the Corporation and the
Executive are parties to that certain Executive Employment
Agreement effective October 1, 2021 (the “Agreement”).
WHEREAS, the parties desire to amend a
section of the Agreement as hereinafter set forth to appoint the
Executive as Chief Operating Officer in addition to Chief Financial
Officer.
NOW, THEREFORE, in consideration of the
mutual agreements herein made, the Corporation and the Executive do
hereby agree as follows:
1. Recitals.
The above recitals are true, correct, and are herein incorporated
by reference.
2. Amendment
to Section 3(a) of the Employment Agreement. Section 3(a) of
the Agreement is hereby amended to provide that the Executive shall
also serve as the Corporation’s Chief Operating Officer
during the Term of the Agreement. The Executive shall not be
entitled to any additional compensation in connection with the
appointment of him to such additional office.
3. No
Other Revisions; Defined Terms. Except as set forth herein,
all other terms and conditions of the Agreement remain in full
force and effect. All terms not otherwise defined herein shall have
the same meaning as in the Agreement.
IN WITNESS WHEREOF, the parties have
executed this Amendment No. 1 as of the day and date first above
written.
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cbdMD,
Inc.
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By:
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/s/ Martin A.
Sumichrast
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Martin A. Sumichrast |
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co-Chief Executive Officer |
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/s/ T. Ronan Kennedy |
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T. Ronan Kennedy |
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